The banking sector has been attracting a lot of prospects. There are diverse roles and functions that you have to play as a banker. Starting from handling cash, clear check, look after sales and marketing, operation and management are looked after. This sector has been quite rewarding for the young job seekers, both professionally and personally. But there are certain drawbacks as well. Let us have a glimpse at the pros and cons of working in a bank.
A strong career option
Although the different job sectors around the world is experiencing a mild turmoil, the banking sector seems stable and balanced with more recruitments. It is expected that the sector will outgrow the number of jobs between the 2012 and 2022 at a rapid phase. Moreover, this is one such job sector where promotions are frequent and there are many avenues to explore as well.
The income potential is good
Majority of the positions at the banking field is well paid. The pay scale in the banking sector is good, even when you are at the entry level. This gives young aspirants the passion to join the sector and make money. With certain professional courses, you can also elevate your career prospects and acquire higher salary.
A good working condition
This is often neglected, but a good working condition is one of the qualities in the banking sector. You will notice that most of the work is office based. Field work is very limited, making the work life comfortable and flexible as well. Hence, the work life balance can be maintained well. Work from home is also an aspect that is encouraged. Paid annual leaves are an advantage as well.
Let us now look at the cons.
Long working hours and high stress level
If you have plans to build your career in the banking sector, you need to be ready to work for long hours. Whether it is the high level officials or the newcomers, often the working hours exceed more than 40 hours every week. This is absolutely not the ideal job if you want a relaxing job life. Moreover, the banking sector is quite fast paced and competitive in nature. The need to meet the targets is very stressful.
Lack of job security
Do you wish to make a career in the banking sector? Is your answer a yes? If so, you need to know about the pros and cons of working in a bank, specially the lack of job security in this sector. There is no doubt to the fact that the banking industry offers a prospective job offer, but it does get influenced by the economic conditions of the market. There is heavy recruitment when the market condition is good and the recruitment is low during the worst situations. In fact, employees are also laid off in high numbers. This clearly means that there is no job security, especially who are at the entry level.